Paid most of $1 bn tax for PhonePe shifting base to India, confirms Walmart

Walmart Inc late on Wednesday confirmed that it had already paid the Indian government most of the nearly $1 billion in tax owed after digital payments company PhonePe, which the U.S. retailer owns through Flipkart, shifted its headquarters from Singapore to India.
 

Walmart bought a controlling stake in Indian ecommerce giant Flipkart in 2018, giving it ownership of PhonePe. The company said last month it had completed the separation of PhonePe from Flipkart, adding that it would remain a majority stakeholder in both the companies.
 

"Walmart has already paid most of the 78 billion rupees ($943.01 million)that was incurred as